In its fourth regular session, Ethiopia’s House of Peoples’ Representatives (HPR) examined and unanimously approved a loan agreement between Ethiopia and South Sudan, aiming to bolster regional connectivity and strengthen bilateral relations.
The Ethiopian government’s chief representative in the House, Tesfaye Beljige (Dr.), presented the agreement to the HPR, emphasizing Ethiopia’s strategic commitment to prioritizing partnerships with neighboring nations.
The loan, totaling more than USD 738 million, will primarily fund road infrastructure that will connect Ethiopia with South Sudan. According to Dr. Tesfaye, the road project will be managed collaboratively by the South Sudan Roads Authority and the Ethiopian Roads Administration. The civil and consulting work for the project will be undertaken by Ethiopians. South Sudan will repay the loan, including a 4% interest rate, within 10 years through cash or crude oil payments.
In addition to the loan agreement, the HPR took action on several other important international treaties and national legislation. It approved Ethiopia’s ratification of the Paris Convention on Industrial Property, which aims to harmonize international standards for industrial property protection. This decision, passed by a majority with only one abstention, was enacted as Proclamation No. 1351/2024. The house also unanimously ratified Proclamation No. 1352/2024, adopting the protocol linked to the Madrid Convention on International Symbols, further aligning Ethiopia with global standards on intellectual property.
Source: Fana BC and Ethiopian Broadcasting Service
